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Economy > GDP > Official exchange rate: Group totals

DEFINITION: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
High income OECD countries $43.71 trillion 2012
Christian countries $40.00 trillion 2012
Cold countries $38.84 trillion 2012
Heavily indebted countries $38.62 trillion 2012
Group of 7 countries (G7) $34.09 trillion 2012
Former British colonies $24.32 trillion 2012
Non-religious countries $22.76 trillion 2012
Emerging markets $21.37 trillion 2012
Europe $20.40 trillion 2012
East Asia and Pacific $19.73 trillion 2012
NATO countries $18.15 trillion 2012
European Union $16.06 trillion 2012
Hot countries $13.86 trillion 2012
Catholic countries $12.73 trillion 2012
Eurozone $11.68 trillion 2012
Religious countries $7.27 trillion 2012
Muslim countries $6.20 trillion 2012
Latin America and Caribbean $5.63 trillion 2012
Eastern Europe $3.63 trillion 2012
Former Spanish colonies $3.59 trillion 2012
Middle Eastern and North Africa $3.35 trillion 2012
OPEC countries $3.25 trillion 2012
Former Soviet republics $2.73 trillion 2012
South and Central Asia $2.56 trillion 2012
South Asia $2.18 trillion 2012
Landlocked countries $1.88 trillion 2012
Sub-Saharan Africa $1.31 trillion 2012
failed states $904.60 billion 2012
Potential Future EU Members $878.58 billion 2012
Former French colonies $741.06 billion 2012